BANJA LUKA (Bosnia and Herzegovina), October 17 (SeeNews) - Bosnia’s Telekom Srpske, majority-owned by Serbia's state-controlled Telekom Srbija, expects its 2008 net profit to climb by 50% and revenue to rise by 20% to 25%, Bosnian daily Nezavisne Novine reported on Friday.
Telekom Srpske, the country’s second largest telco, said earlier it had a net profit of 79.09 million marka ($54.9 million/40.6 million euro) last year, up from 77.71 million marka in 2006, on revenue of 391.4 million marka. Its net profit in the first half of 2008 rose 45% to 52.51 million marka.
Telekom Srpske has raised the number of its mobile phone subscribers by half a million to 1,060,000 since Telekom Srbija took over the company in January 2007, the Bosnian company’s General manager, Predrag Culibrk, told Nezavisne Novine.
He said Telekom Srpske invested over 100 million marka in the first nine months of this year in expanding its mobile network and improving the fixed-line infrastructure. He also said the company was preparing to introduce 3G services after it obtains a licence in the next three months.
Telekom Srbija bought 65% of Telekom Srpske for 646 million euro ($874 million) from the government of Bosnia's Serb Republic. The Serbian telecoms group has said it plans to invest 295 million euro in its Bosnian acquisition in the next five years.
The Serb Republic is one of the two autonomous regions forming war-divided Bosnia. The other is the Muslim-Croat Federation.
Four more companies hold stakes of 5.0% to 10% each in Telekom Srpske. The company stock closed at 1.22 marka on Friday, unchanged from Thursday.
Telekom Srpske has clients mainly in the Serb Republic but its mobile phone users in the Federation have been increasing after the Telekom Srbija acquisition.
Bosnia has two other telecoms companies, both state-controlled. The biggest one, BH Telecom, and a smaller company, HT Mostar, operate in the Federation. The Federation government plans to offer for sale stakes in those companies in early 2009.
Telekom Srbija is 80%-owned by the government of Serbia. Greek telecoms firm OTE owns the remaining 20%.
(1 euro = 1.95583 Bosnian marka)
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